bank run

German Finance Minister Wolfgang Schaeuble told reporters in Brussels today (Monday) that getting their deficits down was “the only task that everyone has to fulfill for himself and for the common good.” Meanwhile, over in New York, Paul…

The following is a guest post by Polyvios Petropoulos, a former university professor of economics and management in the US. Petropoulos contends that, since the IMF charges a maximum rate of 3.5% in other interventions, one would expect…

The news about Greece's bailout has me thinking a lot about Creditanstalt, the Austrian bank which collapsed in 1931. This account bears remembering because we should see the 1929-1933 descent as a two-part episode, with the second part…

Apparently, some of the ‘best reforms’ now being instituted in the U.S. to prevent a liquidity crisis in the future include limitations on demand deposits (hat tip Karl Denninger). What financial institutions are trying to prevent is a bank…

Marc Chandler had some good comments on the Greek debt crisis this morning. The main issues, he believes, are contagion and uncertainty, especially as it pertains to sovereign debt infecting the private sector and vice versa. He said:…

The closing of the Bank of the United States could be considered the event during the Great Depression that was most akin for the U.S. to the collapse of Lehman Brothers last year.  The event occurred on 12 December 1930 – so 79 years…

I was reading Kid Dynamite's account of the recent Treasury - Finance Blogger meeting after having read a bunch of others (see them all in Abnormal Returns’ Nov 4th links). And I was struck by his characterization of the thinking at…

The Seattle Times has a must-read piece on Washington Mutual today which reveals a lot of the fine detail on how the company was run and what led to its demise (hat tip calculated Risk). As with many of the other busted financial giants…

This morning you may have read Gideon Rachman’s positive view on Hungary.  He said the panic is all but over and it looks like Hungry is going to get through this debt crisis. The horror scenario envisaged a Hungarian banking collapse that…

Bill Gross, the founder of PIMCO and manager of the world's largest bond fund, has just released his most recent Economic Outlook. In it, he takes a tack regarding the fix to the present turmoil in the markets with which I disagree.…